Apple Lost $22 Billion in Market Value Wednesday

NY - Shares of Apple had their worst day since the height of the financial crisis Wednesday as the tech giant shed billions in market value, the NY Post reported. A day after Apple posted quarterly results that made for a rare earnings miss, the stock fell 5.6 percent, or $23.62, to $398.62. This cut the company's market value by $22 billion, the Post highlighted. Apple is the second most valuable U.S. company behind Exxon Mobil, which the tech company overtook in terms of market value earlier this year. The earnings disappointment came during the first quarterly Apple earnings report after the Oct. 5 death of co-founder and former CEO Steve Jobs. Instead of underpromising like the company has often done in the past, new CEO Tim Cook told analysts on the earnings call that the firm's product pipeline is strong. He also promised record iPhone and iPad sales this quarter. Apple on Wednesday temporarily closed its retail stores to give employees a chance to follow a Jobs memorial on the company's campus that was also streamed online to staff. Cook said the event would give employees "time to remember the incredible things Steve achieved in his life and the many ways he made our world a better place." Email: Georg.Szalai@thr.com Twitter: @georgszalai Related Topics Apple

Box Office Shocker: How Moviemaking Georgia Church Behind 'Courageous' Outperforms Hollywood

This story first appeared in the Oct. 21 issue of the Hollywood Reporter.our editor recommendsSherwood Pictures' Top FilmsCourageous: Film Review Before the filmmakers for Sherwood Pictures shot the first frame of Courageous, they prayed. It's right there in the press materials. They did the same thing with Sherwood's previous theatrical releases, Facing the Giants in 2006 and Fireproof in 2008. None of these Christian-themed movies is up to Hollywood production standards, though by one metric -- box office compared to budget -- they're some of the most profitable films in modern history. While Iron Man 2 and Thor earned three times their production budgets, Giants was made for $100,000 and took in $10.2 million domestically, 102 times its budget. Fireproof cost $500,000 but earned $33.5 million, a multiple of 67 on its budget, and Courageous, made for $2 million, earned eight times that in its first 10 days. It bowed No. 4 at the box office with$9.1 million from 1,161 theaters. It seems Sherwood -- a company few in Hollywood have even heard of -- has discovered the secret for making films on a shoestring that people will line up to see in theaters. Maybe it's all that praying. PHOTOS: Sherwood Pictures' Top Films Sherwood Pictures is "the moviemaking ministry" of Sherwood Baptist Church in Albany, Ga., which spans 130 acres. While it serves 3,000 congregants from a dozen nations, its message -- "passion for Christ and compassion for all" -- reaches millions more through TV and radio broadcasts and its film entity, which launched in 2003 with Flywheel, a movie produced for $20,000 that sold 350,000 DVDs. Since then, Sherwood has struck distribution and marketing deals with two units of Sony Pictures: Affirm Films and Provident Films. Sherwood's films are similarly themed. Courageous is about cops who fear they might fail as fathers without help from Christ. With Fireproof, which starred Kirk Cameron, it was men seeking help to become better husbands, and with Giants and Flywheel, it was men seeking help in their professional lives. The movies have progressed from amateurish to critical successes. PHOTOS: Democrats and Republicans' Favorite Movies "The characters are complex and well drawn, struggling with various personal issues that test their faith and character in believable ways," The Hollywood Reporter film reviewer Frank Scheck wrote of Courageous. The movies are written, directed and produced by Alex and Stephen Kendrick, brothers who are ministers at the church and had minimal moviemaking experience before Flywheel. They're shot and cast largely with volunteers, and profits go to the church, which spends the money on initiatives like an 82-acre sports complex. The Kendrick brothers don't take a salary for acting, directing and producing, though they profit from books that stem from their films. One they wrote based on Fireproof, for example, sold 4 million copies. As Sherwood's filmmaking has improved, so has the marketing and distribution. Flywheel showed in a single theater, and the buzz generated a local news story and a DVD. For the next three films, there were hundreds of screenings for faith leaders, followed by ads on Christian radio and TV and on Fox News Channel. The marketing budget on Giants was $4 million, and the movie played in 441 theaters, followed by $7.5 million in marketing for Fireproof in 905 theaters and $9 million for Courageous, according to insiders. Sony and Sherwood declined comment for this report. It's no secret that Hollywood has been trying to tap into the Christian audience (20th Century Fox has founded FoxFaith). Sherwood attracts Bible Belters by taking the obvious approach -- more in line with The Passion of the Christ than The Chronicles of Narnia series, where a resurrected lion might or might not represent Jesus (depending on which crowd the marketers are talking to). With Sherwood, there's no ambiguity. "They say we're preaching to the choir, but you know what? Sometimes the choir needs a good reminder," Alex Kendrick said in a recent interview with THR's Kim Masters on KCRW's The Business. Encouraged by Sherwood, other churches are delving into filmmaking. The Grace Card, for example, is a buddy-cop Christian drama starring Louis Gossett Jr. and produced by Calvary Church of the Nazarene in Cordova, Tenn. Made for $460,000 and marketed and distributed in February by Affirm, Provident and Samuel Goldwyn Films, the movie took in $2.4 million. (Goldwyn also helped distribute Giants and Fireproof.) "Christian movies have become quite a cottage industry in the Bible Belt," says Howard Klausner, who wrote the 2000 Clint Eastwood movie Space Cowboys before moving to Tennessee, where he wrote and produced Grace Card. "My desire is to make Christian movies mainstream -- to grow the genre up a little bit and make it more culturally relevant." Related Topics

Telespan, Senator team for 'Allende'

SITGES, Spain -- Telespan 2000, part of Spain's Vertice 360 group, is teaming with Germany's Senator Ent. to produce political action thriller "Allende, 11 de septiembre." Senator has also taken distribution rights for Germany. Written by Aitor Escalayo, "Allende" marks a change of direction for Spaniard Miguel Marti, to date a comedy director ("Slam," "School's Out, "Sexy Killer"). Taking place on Sept. 11, 1973, "Allende" turns on the last hours of Chilean president Salvador Allende, spent at Chile's Moneda Palace as it was being shelled by General Augusto Pinochet's troops. It will be along the lines of Oliver Hirschbiegel's "Downfall," said Telespan producer Tomas Cimadevilla. Vet Spanish actor Juan Diego ("The 7th Day") plays Allende. Telespan is in talks with Daniel Bruehl to limn a German docu filmmaker who filmed Chile's Air Force bombing the Moneda, Cimadevilla said at Spain's Sitges festival. Costing Euros4 million ($5.4 million) -- higher bracket by Spanish standards and a huge budget for Chile -- "Allende" rolls June 2012. Telespan aims to structure "Allende" as a Spain-Germany-France-Chile co-production, Cimadevilla said. The "Allende" announcement comes as Telespan world preemed its latest production, Juan Martinez Moreno's comedic "Game of Werewolves," in Competition at Sitges. Produced with Spain's Vaca Films, and sold by Vertice Sales, it garnered an upbeat reaction. "Allende" reps Vertice's first Latin American-themed feature as the region's film markets grows exponentially, while Spain's languishes. "We want to open up to the international markets, more specifically Latino markets," Cimadevilla said. Vertice already has offices in Buenos Aires and Miami, and a 50% stake in Miami-based Powwow ("El lider de la manada"), a TV producer for Latin America. Contact Variety Staff at news@variety.com

Paul Scheer's 'NTSF:SD:SUV' Receives Second Season Pick-Up

Adult Frolic in the water has acquired Paul Scheer's cop procedural parodyNational Terrorism Strike Pressure: Hillcrest: Sport Utility Vehiclefor another season.our editor recommendsChristopher Lloyd, Ving Rhames and Paul Scheer Join the Cast of 'Piranha 3DD' "The ratings have consistently built with the first season which we like what we should are seeing within the show, and merely how's it going in a position to not love Sports utility automobiles?" mentioned Adult Frolic in the water's Mike Lazzo in the series. Within the first season,NTSF:SD:Vehicle has attracted 593,000 audiences aged 18 to 34 and 794,000 audiences inside the 18 to 49 demo, up twelve percent and fifteen percent, correspondingly, from this past year. PHOTOS: Fall TV Preview 2011: 10 Fresh Faces to know Scheer added, "I'm very excited to hold onto punch, shoot, stab and run rapidly with Lawnmowers and acquire taken proper care of it." The series concentrates on aclandestine team of government agents cooperating to guard Hillcrest from terrorist risks coming daily from such "evil" spots as Mexico, Canada and Guam.Much like many other acronym-titled police procedurals,NTSF:SD:SUV's15-minute episodes are ripped within the mind lines and "full of suspense, action, drama, cliffhangers, yelling, passionate love-making, more yelling, dying and a lot of pregnant breaks." PHOTOS: 10 Tv Shows Canceled Faster Than 'The Playboy Club' NTSF:SD:Vehicle, which arises from Abominable Pictures, counts Scheer, Jonathan Stern and Curtis Gwinn as executive producers.It's set to air its finale tonight round the Turner-possessed cable network, with principal photography for season two set to begin noisy . 2012. Scheer, whose other popular seriesThe League returns on Foreign exchange tonight too, is represented by UTA and Principato-Youthful. Stern is represented by Principato-Youthful and Gwinn is represented with the Rothman-Brecher Agency and Principato-Youthful. Email: Lacey.Rose@THR.com Twitter: @LaceyVRose Related Subjects Foreign exchange Adult Frolic in the water

LeAnn Rimes Accepts Tabloid Fascination, For The Moment

First Launched: October 6, 2011 10:11 AM EDT Credit: Getty Images NY, N.Y. -- Caption LeAnn Rimes and Eddie Cibrian pose after an acoustic presentation to assist sufferers in the recent tornadoes in Alabama within the Ponte Vedra Concert Hall in Ponte Vedra Beach, Florida on June 5, 2011LeAnn Rimes discover the covers route on her behalf latest album, Lady and Gentleman, putting her twist on classic new bands tunes initially recorded by males. Nevertheless the 29-year-old has the capacity to record original music even though she sees that people will endeavour to attract analogies between her tunes and her personal existence. I am not really frightened of writing or singing by what is going on throughout my existence, she mentioned in the recent interview. How come I be embarrassed by using it? Its my path. The tunes people will hear in my next record which Im finishing now, you are able to evaluate. The funny factor might be the tunes that people feel are about me probably arent. As well as the tunes which are likely are the types they wouldnt think so thats where it kind of is funny. Rimes existence remains an empty book since she arrived el born area just like a 13-year-old getting a strikingly adult-sounding voice, delighting audiences along with her interpretation in the song Blue. Although the main attraction, she experienced the best fight along with her parents (theyve since reconciled), got married, then infamously romanced actor Eddie Cibrian while both were got married (each ended up divorcing their partners and so are now married to each other). While Rimes remains a subject of tabloid fascination, she demands her real existence is not as exciting as numerous people may think. She discussed her music, existence inside the public eye and acting, without or together with her husband. AP: Celebrity and fame has changed since you first increased being famous just like a teen. Now youre then paparazzi as well as the press focuses on your marriage. Rimes: Its interesting. I used to be told once i was little I couldnt include a viewpoint because you want everyone to buy your record and just like you. I'm not gonna apologize for who I am and what Ive experienced. Most of us are human. Ive learned you just have no clue what another person experienced. People dont realize that. You understand, I experienced all Ive experienced in the last handful of many I used to be coping with the divorce which i couldnt escape bed mattress, well, i acquired ten pounds after which it I lose ten pounds because now Im making your way around and Im working and you also know, I dont stop without any one sees that (fat loss) really can occur like naturally. Its an all-natural growth of existence. It must be some large deal and several issueso Im glad you will discover people available that are smarter than might they dont sign up for it. AP: How will you cope with the tabloid attention? LeAnn: You're going through different feelings each day, because the unfortunate factor is stuff that people discuss and rehearse the word allegedly before and say that you just do or did mold peoples opinions about yourself just like a person, but its completely unfair. They've no clue the half from it. Therefore it is interesting. Ive never really required to experience that before past few years. It certainly might be existence-changing, inside an adverse and positive way. AP: Youre on Twitter. What exactly is it like interacting directly while using public? Rimes: Twitter might be great and extremely bad. You instantly have that platform to jump back and say whatever mean, that's where my truth and my small temper (shows) but Ive learned to disregard a number of it. I have great fans online. Its that instant mention of the the fans. AP: You sing, but youve also done acting. Would you like to do more? Rimes: Yes, a lot more acting. I have got a film being launched on CMT with Burt Reynolds referred to as Reel Love. He am fun to make use of. I havent been becoming extended as Ive been singing so it is actually an opportunity to learn. AP: You and your husband labored together around the movie. Are you able to ever might like to do more acting with Eddie? Rimes: Weve spoken about how precisely it will have to be something incredibly special for people to accomplish together, because its so cliche. Copyright 2011 by Connected Press. All rights reserved. These elements is probably not launched, broadcast, rewritten or redistributed. Copyright 2011 by NBC Universal, Corporation. All rights reserved. These elements is probably not launched, broadcast, rewritten or redistributed.

Owen Wilson Talks Zoolander 2

Hansel not-so-hot right nowBen Stiller spoken to us exclusively in May in regards to the prospects for just about any Zoolander 2. Now his fellow male-model Owen Wilson, presently doing the publicity models forThe Large Year*, has given a few clues in regards to the plot inside an interview with MTV."Hansel, he's fallen on hard occasions. There's a disfiguring injuries. Think Vanilla Sky."The horror!He am hot right then!We already understood from Stiller the film might be set 10 years following a original (so ensure it is now already!)Stiller added, "Then you'll find things setup within the finish in the first movie that people are capable of develop, like Derek and Matilda use a boy, and Mugatu visited jail. There's lots there, I'm searching toward the idea of carrying it out. It feels as if it's approaching going."Zoolander 2, or as Wilson calls it variously Twolander and Zoo 2, will probably be out not very quickly by half. Mix your fingers, so when you'll be mind of development at Vital, attempt now!

'Phantom from the Opera' at 25 Provides a Special Show

NEW You are able to (AP) Andrew Lloyd Webber's "The Phantom from the Opera" will celebrate its 25th anniversary a few days ago having a lavish birthday celebration which will certainly involve someone swinging from the chandelier.Producers will broadcast on Sunday an active performance from the show from London's 5,500-chair Royal Albert Hall to movie houses within the U . s . States, the Uk, Europe, Canada, Japan and Australia. The live show 1 of 3 shows in the hall is going to be then rebroadcasts to movie theaters on March. 5, 6 and 11."To celebrate this kind of remarkable event as two-and-a-half decades, we wanted to behave special, far above yet another gala performance," producer Cameron Mackintosh stated within an interview from London. "Both of us believed that probably the most theatrical space with numerous seats was the Royal Albert Hall."Ramin Karimloo and Sierra Boggess, who co-starred within the "Phantom" follow up "Love Never Dies" working in london, will reunite for that special production. A lot more than 200 original and current cast people, music artists and special visitors are required to create looks in the Royal Albert Hall.Within the U.S., the broadcast is going to be on 500 screens in 43 states, from Alaska to West Virginia. It will likewise be launched on DVD, Compact disc and Blu-ray beginning in November.The show's original director, Hal Prince, that has directed or created a lot more than 50 musicals, plays and operas, including "Damn Yankees," ''West Side Story," ''Fiddler on the top,Inch ''Cabaret," ''A Little Evening Music" and "Sweeney Todd," thinks "Phantom" touched a necessity.InchIt is more escapist than certainly anything I have ever done," he states. "The crowd has each one of these demanding problems plus they purchase a ticket and get into a theater and lose themselves in another world entirely along with a romantic one. I believe that's most likely cause of its durability."The musical first opened up on London's West Finish in the 1,200-chair Her Majesty's Theatre on March. 9, 1986, with Michael Crawford and Sarah Brightman within the lead roles. Will still be there, a lot more than 10,000 performances later.It entered the Atlantic and opened up on Broadway on Jan. 26, 1988, and it has clocked a lot more than 9,800 performances, becoming the truly amazing Whitened Way's longest-running show ever. There has been a large number of productions worldwide, including current ones in Budapest, Hungary, Vegas and Kyoto, Japan, and something is planned the coming year in Nigeria.It's performed to in excess of 130 million people in 27 nations and it has made over $5.6 billion worldwide a lot more than any film ever, including "Avatar," ''Titanic," ''Gone Using the Wind" and "The Exorcist."A 2004 film version directed by Joel Schumacher and starring Gerard Butler, Emmy Rossum, Patrick Wilson and Miranda Richardson did not slow hunger for that masked, damaged guy.Mackintosh states the easy success from the show wasn't so apparent to him or Lloyd Webber one fourth-century ago. "Nobody within their right mind within the theater can ever expect for this. They pray for any effective opening evening along with a decent run. Therefore the type of staggering statistics the show has received through the years is simply remarkable," he states. "The two of us are beaming like Cheshire felines."With different novel by Gaston Leroux, "Phantom" informs the storyline of the deformed composer who haunts the Paris Opera House and falls crazily deeply in love with an innocent youthful soprano, Christine. Lloyd Webber's lavish tunes include "Masquerade," ''Angel of Music," ''All I Request individuals,Inch ''The Phantom from the Opera" and "The Background Music from the Evening.""Phantom" was among four megahits including "Felines," ''Les Miserables" and "Miss Saigon" that Mackintosh created on the length of just eight years within the eighties and the nineteen nineties, something he credits with "incredibly best of luck.InchInchIt is never happened before and you never know whether it may happen again. It is simply amazing," he states. "It certainly will not happen again for me personally.InchKnight in shining armor, 83, will not maintain London for that special performance he's way too busy. He pointing a brand new musical, "Prince of Broadway," which remembers his career and it has co-direction and choreography from Susan Stroman, a magazine by David Thompson and music by Jason Robert Brown."I recieve lots of energy focusing on new things,Inch Prince states,But he plans to stay in NY when "Phantom" hits two-and-a-half decades on Broadway in a year . 5. "Oh, sure. You wager," he states.Copyright 2011 Connected Press. All privileges reserved. These components might not be released, broadcast, rewritten, or redistributed.